Cap Table WaterFall Analysis

ALPHA
Over Hurdle:
Old Shares 7,000,000.00
Pool 3,000,000.00
Escrow 0
Pre $ Valuation $7,350,000.00
Round Size $5,000,000.00
Post $ Valuation $12,350,000.00
Preferred Stock Percentage 40.49%
Common Stock Percentage 59.51%
Number of Shares A Convertible Preferred $4,761,905
Number of Shares Common Stock
Price Per Share $1.05
Series A
Shareholders $ Invested Shares Price Per Share
Preferred
Alpha $2,250,000.00 2,142,857 $1.05
SV $2,250,000.00 2,142,857 $1.05
Other Investors $500,000.00 476,190 $1.05
Sub-Total $5,000,000.00 4,761,905 $1.05
Common
Founder 4,000,000
Option Pool 3,000,000
Sub-Total 7,000,000
Total $5,000,000.00 11,761,905
Below Hurdle:
Old Shares 7,000,000
Pool 3,000,000
Escrow 501,253
Round Size $5,000,000.00
Number of Shares A Convertible Preferred 5,263,158
Price Per Share $0.95
Series A
Preferred
Alpha $2,250,000.00 2,368,421 $0.95
SV $2,250,000.00 2,368,421 $0.95
Investor 3 $500,000.00 526,316 $0.95
Sub-Total $5,000,000.00 5,263,158 $0.95
Common
Founder 4,000,000
Sub-Total 7,000,000
Total $5,000,000.00 12,263,158
Preferred % Fully Diluted %
45.00% 18.22%
45.00% 18.22%
10.00% 4.05%
100.00% 40.49%
34.01%
25.51%
59.51%
100.00%
45% 19.31%
45% 19.31%
10% 4.29%
100% 42.92%
32.62%
24.46%
57.08%
100.00%
Exit
Selling Price for the Company $25,000,000 $30,000,000 $35,000,000
Series A ownership 40.49% 40.49% 40.49%
Series A Liquidation Preference 3x 3x 3x
Series A Liquidation Preference Amount $15,000,000.00 $15,000,000.00 $15,000,000.00
Series A ownership in $ $10,121,457.49 $12,145,748.99 $14,170,040.49
Returned Capital by Round

Series A Preference Activated? Yes Yes Yes
Series A Preferred $15,000,000 $15,000,000 $15,000,000
Left Over for Common $10,000,000 $15,000,000 $20,000,000
Founders $5,714,286 $8,571,429 $11,428,571

Option $4,285,714 $6,428,571 $8,571,429
Total $25,000,000 $30,000,000 $35,000,000

Series A Return Multiple 3.0 3.0 3.0
Returned Capital by Investor
Alpha $6,750,000 $6,750,000 $6,750,000

Alpha Return Multiple 3x 3x 3x
SV $6,750,000 $6,750,000 $6,750,000
SV Return Multiple 3x 3x 3x
Other Investors $1,500,000 $1,500,000 $1,500,000
SV Return Multiple 3x 3x 3x
Total $15,000,000 $15,000,000 $15,000,000

$40,000,000 $45,000,000 $50,000,000
40.49% 40.49% 40.49%
3x 3x 3x
$15,000,000.00 $15,000,000.00 $15,000,000.00
$16,194,331.98 $18,218,623.48 $20,242,914.98
No No No
$16,194,332 $18,218,623 $20,242,915
$23,805,668 $26,781,377 $29,757,085
$13,603,239 $15,303,644 $17,004,049

$10,202,429 $11,477,733 $12,753,036
$40,000,000 $45,000,000 $50,000,000

3.2 3.6 4.0
$7,287,449 $8,198,381 $9,109,312

3.24x 3.64x 4.05x
$7,287,449 $8,198,381 $9,109,312
3.24x 3.64x 4.05x
$1,619,433 $1,821,862 $2,024,291
3.24x 3.64x 4.05x
$16,194,332 $18,218,623 $20,242,915

MEGA
Old Shares 7,000,000

Pool 2,500,000
Round Size $5,000,000.00
Number of Shares A Convertible Preferred 5,000,000.00
Price Per Share $ 1.00
Series A
Preferred
Mega $5,000,000.00 5,000,000 $1.00
Sub-Total $5,000,000.00 5,000,000 $1.00
Common
Founder 4,500,000
Sub-Total 7,000,000
Total $5,000,000.00 12,000,000
100% 41.67%
100% 41.67%
37.50%
20.83%
58.33%
100.00%
Exit
Selling Price for the Company $25,000,000 $30,000,000 $35,000,000
Series A ownership 41.67% 41.67% 41.67%
Series A Liquidation Preference 1.5x 1.5x 1.5x
Series A Liquidation Preference Amount $7,500,000.00 $7,500,000.00 $7,500,000.00
Returned Capital by Round

After Preference $17,500,000 $22,500,000 $27,500,000
Series A Participating $7,291,667 $9,375,000 $11,458,333
Series A Preferred Total $14,791,667 $16,875,000 $18,958,333
Left Over for Common $10,208,333 $13,125,000 $16,041,667
Founders $6,562,500 $8,437,500 $10,312,500

Option $3,645,833 $4,687,500 $5,729,167
Total $25,000,000 $30,000,000 $35,000,000

Series A Return Multiple 3.0 3.4 3.8
$40,000,000 $45,000,000 $50,000,000
41.67% 41.67% 41.67%
1.5x 1.5x 1.5x
$7,500,000.00 $7,500,000.00 $7,500,000.00
$32,500,000 $37,500,000 $42,500,000

$13,541,667 $15,625,000 $17,708,333
$21,041,667 $23,125,000 $25,208,333
$18,958,333 $21,875,000 $24,791,667
$12,187,500 $14,062,500 $15,937,500

$6,770,833 $7,812,500 $8,854,167
$40,000,000 $45,000,000 $50,000,000

4.2 4.6 5.0

Cap Table WaterFall Analysis

Uploaded by

Copyright:

Available Formats

Cap Table WaterFall Analysis

Uploaded by

Document Information

Original Title

Copyright

Available Formats

Share this document

Share or Embed Document

Sharing Options

Did you find this document useful?

Is this content inappropriate?

Copyright:

Available Formats

Cap Table WaterFall Analysis

Uploaded by

Copyright:

Available Formats

ALPHA

Returned Capital by Round

Founders $5,714,286 $8,571,429 $11,428,571

Total $25,000,000 $30,000,000 $35,000,000

Returned Capital by Investor

Alpha $6,750,000 $6,750,000 $6,750,000

Total $15,000,000 $15,000,000 $15,000,000

$13,603,239 $15,303,644 $17,004,049

$40,000,000 $45,000,000 $50,000,000

$7,287,449 $8,198,381 $9,109,312

$16,194,332 $18,218,623 $20,242,915

Old Shares 7,000,000

Returned Capital by Round

Founders $6,562,500 $8,437,500 $10,312,500

Total $25,000,000 $30,000,000 $35,000,000

$32,500,000 $37,500,000 $42,500,000

$12,187,500 $14,062,500 $15,937,500

$40,000,000 $45,000,000 $50,000,000

You might also like